Accounting Quiz 07

Keeping the log of financial information in books of original entries is called__________?

Summarizing

Recording

Processing

Grouping

Correct! Wrong!

_________ is the first phase of accounting cycle?

Identifying an economic event or transaction

Making decisions about business

Preparing journals

Posting entries to ledger accounts

Correct! Wrong!

Auditing is what?

Reporting the financial information

Maintaining the ledger records

Examination of financial statements

Preparation financial statements

Correct! Wrong!

For which step of accounting process the accountants of business entity prepare financial statements?

Recording financial information

Communication of financial information

Making decisions about business

Identification of economic event

Correct! Wrong!

Identify the correct sequence of accounting process

Identifying→recording→communicating

Communicating→Recording→Identifying

Identifying→communicating→recording

Recording→Communicating→Identifying

Correct! Wrong!

Which of the following is the external user of financial statements?

Creditor of the business

CEO of the business

Controller of the business

Manager of the business

Correct! Wrong!

Financial accounting provides financial information to all of the following external users except:

investors

Creditors

Government agencies

Managers

Correct! Wrong!

In accounting an Economic event is referred to as:

Bank statement

Exchange of money

Transaction

Cash

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Recording financial information

Preparing financial statements

Auditing the books of accounts

Analyzing

Correct! Wrong!

Which of the following is the internal user of financial statements?

Manager of the business

Creditor of the business

Government agency

Shareholder of the business

Correct! Wrong!

Accounting Quiz 07

Well Done !

Your parents would be so proud of you :'D

You Could Do Better !!!

Give it another try 😉

Oh Shoot ! Try Again Maybe ?

Try again bachaa :3

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Accounting Quiz 07

Keeping the log of financial information in books of original entries is called__________?

_________ is the first phase of accounting cycle?

Auditing is what?

For which step of accounting process the accountants of business entity prepare financial statements?

Identify the correct sequence of accounting process

Which of the following is the external user of financial statements?

Financial accounting provides financial information to all of the following external users except:

In accounting an Economic event is referred to as:

Bookkeeping mainly concerns with which part of accounting process?

Which of the following is the internal user of financial statements?

About the author

Muhammad Arslan

Keeping the log of financial information in books of original entries is called__________?

_________ is the first phase of accounting cycle?

Auditing is what?

For which step of accounting process the accountants of business entity prepare financial statements?

Identify the correct sequence of accounting process

Which of the following is the external user of financial statements?

Financial accounting provides financial information to all of the following external users except:

In accounting an Economic event is referred to as:

Bookkeeping mainly concerns with which part of accounting process?

Which of the following is the internal user of financial statements?

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About the author

Muhammad Arslan